Petromec Inc v Petrobras [2007] EWHC 3462 (Comm) (11 May 2007)

Petromec Inc v Petrobras [2007] EWHC 3462 (Comm) (11 May 2007)

Petromec is the claimant in substance and must provide security for Petrobras' costs; objections based on setoff and stalemate are rejected; quantum of security is assessed as reasonable given the complexity and history of the case.

Citation
[2007] EWHC 3462 (Comm)
Parties
Claimant: Petromec Inc.; Defendant: Petrobras
Jurisdiction
England and Wales
Judgment Date
11 May 2007
Procedural Posture
Commercial Court Application / Application for Security for Costs
Outcome
Application for security for costs granted
Legal Topics
Security for Costs, Setoff, Costs Assessment
Civil Procedure Commercial Law Security for Costs Setoff Costs Assessment

Case Brief

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Parties

Petromec Inc.

Claimant

Petrobras

Defendant

Procedural Posture

Commercial Court Application / Application for Security for Costs

Legal Issues

  1. 1 Whether Petromec should provide security for Petrobras' costs in defending the extra costs claim
  2. 2 Whether Petromec is in substance a defendant for purposes of security for costs
  3. 3 Quantum of security for costs to be ordered

Ratio Decidendi

Petromec is the claimant in substance and must provide security for Petrobras' costs; objections based on setoff and stalemate are rejected; quantum of security is assessed as reasonable given the complexity and history of the case.

Court Disposition

Application for security for costs granted

Orders

  • Petromec to provide security for costs in the sum of £178,691.16 up to 11 April 2007
  • Petrobras awarded costs of this application assessed at £24,500